SP Services to raise electricity tariffs in next quarter

SINGAPORE: Households will pay more for electricity in the next quarter in 2012. On average, a family living in a four-room HDB flat can expect to pay S$2.30 more. SP Services said on Friday that electricity tariffs for households for the period between January 1 and March 31 will increase by an average 2.3 per cent due to higher fuel prices, which will drive up power generation costs. This is 0.61 cents per kWh more - from the current 26.98 cents to 27.59 cents per kWh. SP Services said the average fuel oil price over the last three months (October 1 to December 15) increased by 4.4 per cent - from S$121.68 to S$127.07 per barrel. It reviews the electricity tariffs every three months, based on guidelines set by the Energy Market Authority, which is the electricity industry regulator.